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  • #42,081
  • Sep 11, 2024 7:59am Sep 11, 2024 7:59am
Quoting PushnPull
{quote} catching a falling knife is not a great idea.
we’ll see about that
  • #42,082
  • Sep 11, 2024 8:02am Sep 11, 2024 8:02am
Quoting pedro319
{quote} I see market taking out the highs next!

This move down is not over, I say we will touch 2499 at least ...

After that, only God knows!!!
  • #42,083
  • Sep 11, 2024 8:02am Sep 11, 2024 8:02am
Quoting SnakeDok
{quote} If the 4h closes above 2507 i can see it happening
I dont need 4hr close, i only see what is my risk, and what is my potential rewards.
RN, my risk is $3 for a potential ~$45 move.
My entry is 2502.11, 15mins OB
More time in the market, does not mean you trade better!
  • #42,084
  • Sep 11, 2024 8:02am Sep 11, 2024 8:02am
Quoting R4sh
I am waiting for a significant fall in the gold
Next station : 2492
Lost in Narrative
  • #42,085
  • Sep 11, 2024 8:02am Sep 11, 2024 8:02am
Quoting pedro319
{quote} au contraire
how comes you have it being bullish, what gives it away? I’m just trying to understand
  • #42,086
  • Sep 11, 2024 8:02am Sep 11, 2024 8:02am
buy limit around 2500
  • #42,087
  • Sep 11, 2024 8:03am Sep 11, 2024 8:03am
Quoting PushnPull
{quote} I see, that is a good level. On the other side, the 50bps cut guys are selling their wrong positions because of CPI
With those kinda numbers we aren’t going to see a 50 bps cut, but we still have PPI and retail sales, but it’s highly unlikely
  • #42,088
  • Sep 11, 2024 8:03am Sep 11, 2024 8:03am
Quoting Fardeen1209
2545 next target. Who is with me?
I am
  • #42,089
  • Sep 11, 2024 8:06am Sep 11, 2024 8:06am
Quoting NrSLionHeart
{quote} This move down is not over, I say we will touch 2499 at least ... After that, only God knows!!!
Are you sure about that, those numbers weren’t confidence inducing, apart from the Core CPI what else would make you lead to that conclusion??
  • #42,090
  • Sep 11, 2024 8:06am Sep 11, 2024 8:06am
Quoting 69Doggy
{quote} With those kinda numbers we aren’t going to see a 50 bps cut, but we still have PPI and retail sales, but it’s highly unlikely
How much rate cut is unimportant, rate cut path is on, thats important, cause thats trend setting
More time in the market, does not mean you trade better!
  • #42,091
  • Sep 11, 2024 8:07am Sep 11, 2024 8:07am
Quoting 69Doggy
{quote} With those kinda numbers we aren’t going to see a 50 bps cut, but we still have PPI and retail sales, but it’s highly unlikely
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 20 KB
Its all just one persons opinion
  • #42,092
  • Sep 11, 2024 8:07am Sep 11, 2024 8:07am
Quoting 69Doggy
{quote} Are you sure about that, those numbers weren’t confidence inducing, apart from the Core CPI what else would make you lead to that conclusion??
No, I am not sure about that, but there is a high chance that we take the current low of the move. If we do not take the low then we are going to the moon but it would be too obvious...

We will know more once the market settles a bit!
  • #42,093
  • Sep 11, 2024 8:09am Sep 11, 2024 8:09am
Quoting Fardeen1209
{quote} How much rate cut is unimportant, rate cut path is on, thats important, cause thats trend setting
The market has priced 100bps for 2024. That is starting to look problematic , but more figures to come
Its all just one persons opinion
  • #42,094
  • Edited 8:37am Sep 11, 2024 8:10am | Edited 8:37am
Quoting Fardeen1209
{quote} I dont need 4hr close, i only see what is my risk, and what is my potential rewards. RN, my risk is $3 for a potential ~$45 move. My entry is 2502.11, 15mins OB
2511.38
TP 40% of my position.
Thats RR 1:3
Reward: 3x 40% of risk= 120% of risk- 20% for the account while total risk get covered.
Using this technique you can build position for long term trade, while risking the least amount.

Edit:
This technique allows ones to build a long term position, while reducing the chance for Drawdown, and enable you to take stop loss like a king.
As % of your exposure get covered.
To be able to position like this requires 2 ingredient:
#1 A strategy that gives positive market expectation.
#2 Split position entry ( that is instead of trading 1x 10lot, you trade 5x 2lot)- which makes it easy to scale in and out.
#3 Based on #1 and #2, is Re-add (Add-ons) to the position, using a fresh position

Under your money management strategy, the Re-add (ADD-ons) is considered as a different trade, using the same setup of the previous trade.
So just because you are able to cover your risk on the first block of position, does not mean you will also able to cover the next one.

So everything comes down to how good your system is, that enables you to take long term trade with this tiny risk, yet magnify the reward.
More time in the market, does not mean you trade better!
  • #42,095
  • Edited 9:41am Sep 11, 2024 8:12am | Edited 9:41am
Quoting profits7
{quote} _____________ still HOLDING these ! TP2 @ 2544 , SL man. = all in ADVANCE ! no bla BLA2 {image} {image} {image}
Attached Image (click to enlarge)
Click to Enlarge Name: xu4.png Size: 41 KB
Don’t focus on making $$$, focus on protecting what you have.
  • #42,096
  • Sep 11, 2024 8:13am Sep 11, 2024 8:13am
Quoting Fardeen1209
2545 next target. Who is with me?
https://www.forexfactory.com/thread/...3#post14993793
your tf?
  • #42,097
  • Sep 11, 2024 8:13am Sep 11, 2024 8:13am
Quoting axecap
{quote} The market has priced 100bps for 2024. That is starting to look problematic , but more figures to come
The market has been wrong, on FED rate hike path and will be wrong on FED rate cut.
Our stance as a trader is not to trade with the market, but to have a neutral view that lies between the market and what the FED wants to do.
Thats the only possible way for us to make money, in my view
More time in the market, does not mean you trade better!
  • #42,098
  • Sep 11, 2024 8:15am Sep 11, 2024 8:15am
Quoting Fardeen1209
{quote} How much rate cut is unimportant, rate cut path is on, thats important, cause thats trend setting
That’s my reasoning too but the rate cut just set’s the tone on how bullish people will be on alternative assets, gold to hedge against inflation and all that shit, but now I’m super bullish on gold till 2025
  • #42,099
  • Sep 11, 2024 8:16am Sep 11, 2024 8:16am
Quoting NrSLionHeart
{quote} No, I am not sure about that, but there is a high chance that we take the current low of the move. If we do not take the low then we are going to the moon but it would be too obvious... We will know more once the market settles a bit!
NY will buy this metal like crazy
  • #42,100
  • Sep 11, 2024 8:17am Sep 11, 2024 8:17am
Quoting Isabella_D
{quote} https://www.forexfactory.com/thread/...3#post14993793 your tf?
I use monthly to 3mins but my latest EW count update was here

Quoting Fardeen1209
{quote} GOLD: Update {image} Currently wave 3. The black dot is the smallest price increment i trade, as it gives better reward. While Waiting for end of wave 3, price return to wave 4, i'll add buy cause i just Partial TP. Looks like price is making a fake wyckoff to trap traders on both sides. I dont know if it will be a valid wyckoff or fake one, it all depend on how strong the momentum will be on CPI to break that resistance level. IF sharp and strong breakout, i suppose the balck dot for wave 2 is the BO/RT setup. If CPI hotter than expected,...
More time in the market, does not mean you trade better!
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